Freehold Investment for Sale
The property benefits from frontage on both Old London Rd and Fairfield North (A307), and is located a short walk from Kingston Rail Station and Bentalls Shopping Centre. Kingston is a leading retail and commercial centre, benefitting from excellent commuter links. The A3 and M25 are easily accessible and London Waterloo is 30 mins away from Kingston Rail Station.
The building was constructed c.2004. It comprises 20 residential units on the first to fourth floors, sold off on 999 year leases from January, 2001, with a ground rent passing is £3,000 per annum, and 3,941 sq. ft. of retail space on the ground floor with two frontages - London Rd 20.78 m. (68’2” ft.) and Fairfield North (A307) 16.63 m. (54’7” ft.)
The ground floor is let to Homestyle Group Operations Ltd. (trading as Benson Beds) on a new 10 year FRI lease from 6 June, 2013. The current rent passing is £75,000 per annum.
£1,000,000 for the freehold interest.
The total rent passing is £78,000 per annum. This price reflects a net initial yield of 7.37% accounting for purchasing costs at 5.8%.
Each party to bear their own legal costs.